The Shared Ownership Agreement is a crucial document in England and Wales' affordable housing sector, enabling individuals to purchase a share of a property while paying rent on the remainder. This agreement type has become increasingly important as property prices have risen, making full ownership unattainable for many. The document establishes all aspects of the shared ownership arrangement, including initial share purchase, rent calculations, staircasing provisions, and ongoing responsibilities. It must comply with current housing legislation and regulations, including the Housing Acts and Homes England requirements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Details of the housing association/provider and the shared owner
2. Background: Context of the shared ownership arrangement and property details
3. Definitions: Key terms used throughout the agreement including relevant legislation references
4. Initial Share Purchase: Details of the initial share being purchased and payment terms
5. Rent Provisions: Terms for rent payment on the unpurchased share, including calculation methods and payment schedules
6. Staircasing Provisions: Process for purchasing additional shares, including valuation requirements and procedures
7. Service Charges: Details of service charges and maintenance obligations
8. Repairs and Maintenance: Responsibilities for property maintenance and upkeep
9. Insurance: Insurance requirements and obligations of both parties
10. Transfer and Sale Provisions: Procedures and requirements for selling or transferring the property
1. Mortgage Requirements: Specific terms relating to mortgage financing and lender requirements
2. Subletting Provisions: Terms and conditions under which subletting may be permitted
3. Right of First Refusal: Housing provider's right to first refusal when the property is sold
4. Restrictions on Use: Special conditions or restrictions on property use
5. Management Company Provisions: Terms relating to management company involvement if applicable
1. Property Schedule: Detailed description of the property including plans and specifications
2. Initial Purchase Price Calculation: Breakdown of initial share purchase calculations and valuations
3. Service Charge Schedule: Detailed breakdown of service charges and payment terms
4. Staircasing Schedule: Detailed procedure for staircasing calculations and implementations
5. Lease Terms: Full terms of the underlying lease agreement
6. Maintenance Schedule: Detailed breakdown of maintenance responsibilities
Find the exact document you need
Shared Ownership Agreement
An England & Wales legal document detailing shared property ownership and rental terms for affordable housing.
Download
Joint Ownership Contract
An England & Wales legal document formalizing shared property ownership, detailing shares, responsibilities, and obligations.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)